Squarepoint Ops LLC Acquires 16,437 Shares of Alamo Group Inc. (NYSE:ALG)

Squarepoint Ops LLC raised its stake in shares of Alamo Group Inc. (NYSE:ALG) by 366.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,928 shares of the industrial products company’s stock after purchasing an additional 16,437 shares during the period. Squarepoint Ops LLC owned 0.17% of Alamo Group worth $3,621,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Alamo Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after purchasing an additional 7,121 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Alamo Group by 48.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock valued at $103,191,000 after acquiring an additional 193,463 shares during the last quarter. Victory Capital Management Inc. boosted its position in Alamo Group by 9.4% during the second quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock valued at $66,888,000 after acquiring an additional 33,190 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Alamo Group by 16.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock worth $64,518,000 after acquiring an additional 52,250 shares during the period. Finally, Westwood Holdings Group Inc. raised its position in shares of Alamo Group by 17.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock worth $59,635,000 after acquiring an additional 50,327 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Stock Performance

Shares of ALG opened at $176.44 on Wednesday. The stock has a 50-day moving average of $179.67 and a 200-day moving average of $188.65. Alamo Group Inc. has a one year low of $157.74 and a one year high of $231.40. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.52. The company has a market cap of $2.13 billion, a PE ratio of 15.70 and a beta of 1.07.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.44). Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. The firm had revenue of $416.30 million for the quarter. During the same period last year, the company posted $3.03 EPS. On average, equities research analysts predict that Alamo Group Inc. will post 10.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of the transaction, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the transaction, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the transaction, the executive vice president now directly owns 7,765 shares in the company, valued at approximately $1,384,421.85. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALG shares. StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird cut their price target on Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, DA Davidson lifted their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th.

Alamo Group Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.